Reports released throughout the holiday shopping season suggested that 2011 would be a banner year for retailers.
During November and December, many analysts measured increased transactions and dollar volumes at physical POS terminals and via secure online payment gateways, although the majority were concerned the momentum would not be sustainable for the entire period.
The latest study from comScore shows that their concerns were likely unfounded.
The research firm determined that consumers spent more than $37 billion on ecommerce sites alone, marking a 15 percent rise from last year's internet sales. In addition, there were 10 days during the season where online transactions totaled more than $1 billion. Cyber Monday alone pulled in $1.25 billion in sales.
"Despite their continuing price sensitivity, consumers felt a bit more comfortable opening up their wallets this year, although this appears to have occurred as a result of a decline in the savings rate," said Gian Fulgoni, comScore's chairman. That said, Fulgoni maintained that online retailers benefited from the holiday season.
He added that it remains to be seen "whether the aggressive pricing and free shipping offers came at the cost of lower margins."
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